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Insurance, Investment Units
Boost Equitable's Earnings

A solid performance from its life-insurance business and investment units helped Equitable Cos. post first-quarter net income Wednesday that was 57% higher than a year ago.

The New York company, majority owned by French insurance giant Axa Group, had net income of $136 million, or 68 cents a primary and 62 cents a diluted share, on revenue of $2.24 billion. That included investment gains of $10.6 million, restructuring charges of $3.4 million and a loss of $3.3 million from discontinued operations.